Common use of Casino Complex Clause in Contracts

Casino Complex. (a) Developer shall (i) construct the Casino Complex either as new construction or as a combination of new construction and existing structures or new construction and modifying existing structures, (ii) diligently operate and maintain the Casino Complex and all other support facilities in a manner consistent with First Class Casino Complex Standards, the Act and all other Governmental Requirements and in compliance with this Agreement, and (iii) upon execution of this Agreement, provide to the City a document (including pictures, diagrams or illustrations) which illustrates Developer’s concept for the Casino Complex and demonstrates the First Class Casino Standards. (b) The Gaming Area shall be 100,000 square feet. Due to the imprecise ability to measure Gaming Area, City and EDC agree that if in good faith Developer measures its gaming floor area in a manner that differs from City’s measurement of gaming floor area by ten percent (10%) or less, such variance shall not be considered a violation of this Section 2.2. Additionally, such variance shall not be deemed to be an amendment to or revision of this Agreement requiring the consent described in Section 14.26. (c) Developer shall develop and construct the following Components, as more particularly described in Section G of Exhibit A, simultaneously with the Casino: (1) hotel with a minimum of four hundred (400) rooms (the “Initial Hotel Component”); (2) theater; (3) ballroom/convention area; (4) restaurants, lounges and bars; (5) retail space; and (6) parking for a minimum of 4,000 vehicles. Developer shall expand the Initial Hotel Component by constructing Additional Hotel Rooms, provided, however, that Developer’s obligation to construct the Additional Hotel Rooms shall be subject to the occurrence of all of the following: (i) market conditions indicate that the Additional Hotel Rooms can be operated at a reasonable profit; (ii) Developer’s ability to acquire additional land, if necessary, on which to construct the Additional Hotel Rooms; and (iii) availability of financing to Developer upon conventional terms reasonably satisfactory to Developer, necessary to construct the Additional Hotel Rooms. If Developer does not commence construction of the Additional Hotel Rooms on or before five (5) years from the date of this Agreement, then within thirty (30) days thereafter Developer shall provide the City with a written account of the reasons for not having commenced construction of the Additional Hotel Rooms. If the City disagrees with Developer’s written account, the dispute shall be settled through arbitration pursuant to Section 14.16. If the City prevails in such arbitration, the Developer shall be obligated to promptly commence and complete the Additional Hotel

Casino Complex. (a) Developer shall (i) construct the Casino Complex either as new construction or as a combination of new construction and existing structures or new construction and modifying existing structures, (ii) diligently operate and maintain the Casino Complex and all other support facilities in a manner consistent with First Class Casino Complex Standards, the Act and all other Governmental Requirements and in compliance with this Agreement, and (iii) upon execution as soon as reasonably possible consistent with its typical development process, of this Agreement, provide to the City a document (including pictures, diagrams or illustrations) which illustrates Developer’s 's concept for the Casino Complex and demonstrates the First Class Casino Complex Standards. (b) The Gaming Area shall not be smaller than the Gaming Area of the MGM Grand Detroit Casino or larger than 100,000 square feet. Due to the imprecise ability to measure Gaming Area, City and EDC agree that if in good faith Developer measures its gaming floor area in a manner that differs from City’s 's measurement of gaming floor area by ten percent (10%) or less, such variance shall not be considered a violation of this Section 2.2. Additionally, such variance shall not be deemed to be an amendment to or revision of this Agreement requiring the consent described in Section 14.26. (c) Developer shall develop and construct the following Components, as more particularly described in Section G of Exhibit A, simultaneously with the Casino: (1) hotel with a minimum of four hundred (400) rooms (the “"Initial Hotel Component”"); (2) theatercatering and entertainment facilities; (3) ballroom/convention area/meeting rooms; (4) restaurants, lounges and bars; (5) adequate retail space; and (6) parking for a minimum of 4,000 vehiclesadequate parking. Developer shall expand the Initial Hotel Component by constructing Additional Hotel Rooms, provided, however, that Developer’s 's obligation to construct the Additional Hotel Rooms shall be subject to the occurrence of all of the following: (i) market conditions indicate that the Additional Hotel Rooms can be operated at a reasonable profitprofit which is not less than that prevailing at the other hotel rooms operated by Affiliates of Developer; (ii) Developer’s 's ability to acquire additional landacquire, if necessary, additional land adjacent to the Casino Complex at a reasonable cost on which to construct the Additional Hotel Rooms; and (iii) availability of financing to Developer Developer, upon conventional terms reasonably satisfactory to Developer, necessary to construct the Additional Hotel Rooms. If Developer does not commence construction of the Additional Hotel Rooms on or before five (5) years from the date of this Agreementthe opening of the Initial Hotel Component to the public for their intended use, then within thirty (30) days thereafter Developer shall provide the City with a written account of the reasons for not having commenced construction of the Additional Hotel Rooms. If the City disagrees with Developer’s 's written account, the dispute shall be settled through arbitration pursuant to Section 14.16. If the City prevails in such arbitration, the Developer shall be obligated to promptly commence and complete the Additional HotelHotel Rooms. In its site plan to be delivered to the City pursuant to Section 2.6, Developer shall delineate the approximate location at which the Additional Hotel Rooms will be constructed. (d) Developer may develop, construct and operate Components of the Casino Complex through leasing, joint venture or other contractual arrangements with third parties, pursuant to which the ownership and operation of selected Components is vested in affiliated or independent entities; provided, however, that the arrangements comply with all applicable Governmental Requirements and; provided, further, that in all such cases Developer obtains contractual commitments from all such third parties to comply with the applicable provisions of this Agreement. Developer shall be liable for any non-compliance by such third parties as if such Component were owned and operated by Developer.

Casino Complex. (a) Developer shall (i) construct the Casino Complex either as new construction or as a combination of new construction and existing structures or new construction and modifying existing structures, (ii) diligently operate and maintain the Casino Complex and all other support facilities in a manner consistent with First Class Casino Complex Standards, the Act and all other Governmental Requirements and in compliance with this Agreement, and (iii) upon execution of this Agreement, provide to the City a document (including pictures, diagrams or illustrations) which illustrates Developer’s 's concept for the Casino Complex and demonstrates the First Class Casino Standards. (b) The Gaming Area shall be 100,000 square feet. Due to the imprecise ability to measure Gaming Area, City and EDC agree that if in good faith Developer measures its gaming floor area in a manner that differs from City’s 's measurement of gaming floor area by ten percent (10%) or less, such variance shall not be considered a violation of this Section 2.2. Additionally, such variance shall not be deemed to be an amendment to or revision of this Agreement requiring the consent described in Section 14.2614.25. (c) Developer shall develop and construct the following Components, as more particularly described in Section G of Exhibit A, simultaneously with on or about the Casinosame time, as appropriate, based upon Developer's construction plans: (1) hotel with a minimum of four hundred (400) rooms (the “"Initial Hotel Component”"); (2) theater; (3) ballroom/convention area; (4) restaurants, lounges and bars; (5) adequate retail space; and (6) parking for a minimum of 4,000 vehicles. adequate parking. (d) Developer shall expand the Initial Hotel Component by constructing Additional Hotel Rooms, provided, however, that Developer’s 's obligation to construct the Additional Hotel Rooms shall be subject to the occurrence of all of the following: (i) market conditions indicate that the Additional Hotel Rooms can be operated at a reasonable profitprofit for a casino hotel operation; (ii) Developer’s 's ability to acquire additional land, if necessary, on which to construct the Additional Hotel Rooms; and (iii) availability of financing to Developer Developer, upon conventional terms reasonably satisfactory to Developer, necessary to construct the Additional Hotel Rooms. If Developer does not commence construction of the Additional Hotel Rooms on or before five (5) years from the date of this Agreement, then within thirty (30) days thereafter Developer shall provide the City with a written account of the reasons for not having commenced construction of the Additional Hotel Rooms. If the City disagrees with Developer’s 's written account, the dispute shall be settled through arbitration. However, if hotel occupancy in the City of Detroit is below 75%, then it will be prima facie evidence that market conditions do not warrant further construction and the arbitration pursuant to Section 14.16procedure will not be applicable. If the City prevails in such arbitration, the Developer shall be obligated to promptly commence and complete the Additional HotelHotel Rooms. In its site plan to be delivered to the City pursuant to Section 2.6, Developer shall delineate the approximate location at which the Additional Hotel Rooms will be constructed. (e) Developer may develop, construct and operate Components of the Casino Complex through leasing, joint venture or other contractual arrangements with third parties, pursuant to which the ownership and operation of selected Components is vested in affiliated or independent entities; provided, however, that the arrangements comply with all applicable Governmental Requirements and; provided, further, that in all such cases Developer obtains contractual commitments from all such third parties to comply with the applicable provisions of this Agreement. Developer shall be liable for any non-compliance by such third parties as if such Component were owned and operated by Developer.